School tuition organization tax credits

More than $250.028 million in corporate taxes have been diverted from the state general fund by corporate STO tax credits from their inception in fiscal year 2006 to fiscal year 2016, according to an Arizona Department of Revenue report.

Corporations that donate to a School Tuition Organization that helps low-income and/or disabled/displaced students can apply those tax credits to either their corporate income tax or insurance premium tax, according to the Arizona Department of Revenue.

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